The Commerce Department released a report on Tuesday unexpectedly showing a sharp increase in new home sales in the U.S. in the month of May.The report said new home sales soared 12.2 percent to an annual rate of 763,000 in May after surging 3.5 percent to a revised rate of 680,000 in April.Economists had expected new home sales to slump 1.2 percent to an annual rate of 675,000 from the 683,000 or...
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.